Fission Uranium Corp T.FCU

Alternate Symbol(s): FCUUF

Energy

Fission Uranium Corp. is a Canada-based uranium company and the owner/developer of the high-grade, near-surface Triple R uranium deposit. The Company is the 100% owner of the Patterson Lake South uranium property. Its Patterson Lake South (PLS) project, which hosts the Triple R deposit, a large, high-grade and near-surface uranium deposit that occurs within a 3.18 kilometers (km) mineralized trend along the Patterson Lake Conductive Corridor. The property comprises over 17 contiguous claims totaling 31,039 hectares and is located geographically in the south-west margin of Saskatchewan’s Athabasca Basin. Additionally, the Company has the West Cluff property comprising three claims totaling approximately 11,148-hectares and the La Rocque property comprising two claims totaling over 959 hectares in the western Athabasca Basin region of northern Saskatchewan. The La Rocque property is prospective for high-grade uranium and is located five km south of Cameco’s La Rocque Uranium Zone.

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Fission Uranium Corp

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Comment by Banner60on Sep 23, 2015 1:09pm

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Post# 24128503

RE:RE:That "worthless" DML mill

Thanks for a great recap for the mill. That's the kind of info I like.

Thanks for providing that info, sim_1. What constantly gets overlooked is that there are 4 components to the Value of the McClean Lake Mill in Denison's overall NAV.

1. The standalone assessed value of the Mill - Denison owns 22.5% of the world's most advanced Uranium mill valued at over $1B, able to process the highest grade ores in the world.

2. The Toll Milling Income - which has only just started now that Cameco is ramping up Cigar Lake production, estimated to be $9M per year by the end of 2016.

3. The 25% of Production Capacity - which is available under the agreement with Cigar Lake JV, allowing the McClean Lake JV to process their own deposits at McClean Lake and the Midwest Project that has been approved by the Saskatchewan Govt. Under the arrangement, the McClean Lake JV pays no Toll Milling fees so production is "at cost" which provides the highest profit level for that 6M lbs/year capacity that they own. When U prices do rise to US$65/lb then that 6M lbs/year represents US$390M/year in gross U3O8 production sales.

4. Strategic value of McClean Lake JV's 25% Production Capacity - given that existing mill capacity on the Eastern Side of the Athabasca Basin is already committed, any new projects to be developed will need to build a new mill to process their ore, unless they acquire Denison and can gain access to that 6M lbs/year capacity at the McClean Lake Mill.

Raymond James, in their 7 July Analyst Report assigns a NAV of $214M to the mill.

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This is not a recommendation to approve the proposed merger... just ensuring that facts are presented to shareholders, not myths.

sim_1 wrote: For those who still picture the high-grade, state-of-the-art mill complex Denison has a 22.5% stake in as a pre-industrial windmill, here are a few facts: *The mill is operated by Areva and processes ore from Cameco's Cigar Lake mine (talk about maintaining close ties with these giants) *It employs 350 workers *It's on track to reach in 2016 a capacity of 24 million pounds per year. *It is there now, already generating significant revenues *Generated cash-flow should reach 8-10M$ I mean, look at the complex! https://words.usask.ca/news/files/AREVA.jpg

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